The aim is to raise between Rs 1,200 crores and Rs 1,300 crores. The business’ IPO will mix a fresh issue and an offer for sale for existing shareholders. Mumbai-based Sanathan Textiles, manufactures and produces over 12,000 yarn products. The company is one of India’s leading yarn manufacturers engaged in the production and export of polyester filament yarn, high tenacity filament yarn, airtex yarns, polyester filament twisted yarns and cotton yarn and strives to provide customers with the best quality and variety of innovative yarns.

Sanathan Textiles expanded its margin to 17 per cent in the first half of the financial year 2022 owing to higher realisations, lower raw material prices and the management’s cost-reduction initiatives. The company recorded operating earnings of Rs 260 crores in the first half of the year and expects to be supported by higher volumes in the forthcoming fiscal year, with the completion of capex in cotton yarn and industrial drawn yarn.

The business’ products include cotton and polyester yarns and yarns for technical textiles. Sanathan Textiles also has a range of recycled textile products named Revir and a line of eco-friendly color polyester yarns named Born Dyed and makes functional and customised yarns to order.